Cytosorbents Corporation (CTSO) Given Average Recommendation of “Buy” by Analysts
Cytosorbents Corporation (NASDAQ:CTSO) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.71.
A number of analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $11.25 price objective on shares of Cytosorbents Corporation in a research note on Wednesday, August 2nd. Maxim Group upped their price objective on shares of Cytosorbents Corporation from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. HC Wainwright set a $13.00 price objective on shares of Cytosorbents Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Cowen and Company started coverage on shares of Cytosorbents Corporation in a research report on Wednesday, June 7th. They set an “outperform” rating and a $7.00 price target for the company. Finally, ValuEngine raised shares of Cytosorbents Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th.
Shares of Cytosorbents Corporation (NASDAQ CTSO) opened at 5.50 on Friday. Cytosorbents Corporation has a 1-year low of $3.30 and a 1-year high of $6.90. The company’s market capitalization is $154.73 million. The firm’s 50-day moving average is $5.11 and its 200-day moving average is $4.79.
Cytosorbents Corporation (NASDAQ:CTSO) last released its quarterly earnings data on Monday, August 7th. The medical research company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. Cytosorbents Corporation had a negative net margin of 80.56% and a negative return on equity of 529.95%. The company had revenue of $3.57 million during the quarter, compared to analyst estimates of $3.29 million. Analysts forecast that Cytosorbents Corporation will post ($0.27) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in CTSO. Segantii Capital Management Ltd lifted its position in shares of Cytosorbents Corporation by 563.4% during the first quarter. Segantii Capital Management Ltd now owns 27,200 shares of the medical research company’s stock valued at $122,000 after buying an additional 23,100 shares during the last quarter. Cowen Group Inc. purchased a new stake in shares of Cytosorbents Corporation during the first quarter valued at about $248,000. Sabby Management LLC purchased a new stake in shares of Cytosorbents Corporation during the first quarter valued at about $990,000. Skylands Capital LLC lifted its position in shares of Cytosorbents Corporation by 87.7% during the second quarter. Skylands Capital LLC now owns 594,250 shares of the medical research company’s stock valued at $2,555,000 after buying an additional 277,650 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Cytosorbents Corporation by 145.2% during the second quarter. PNC Financial Services Group Inc. now owns 38,000 shares of the medical research company’s stock valued at $163,000 after buying an additional 22,500 shares during the last quarter. 6.89% of the stock is owned by institutional investors and hedge funds.
About Cytosorbents Corporation
CytoSorbents Corporation is a critical care focused immunotherapy company. The Company is engaged in commercializing its product, CytoSorb, which is a blood purification technology with focus in preventing or treating multiple organ failure. The Company’s purification technologies are based on biocompatible, porous polymer beads that remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption.
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